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FINANCIAL NEWS
Egypt’s Redcon sells 50pct of “Blue Capital” project for EGP150mn
16 Jan 2017
(MENAFN) Redcon for real estate development inked a deal to sell 50 percent of its project “Blue Capital” in New Cairo to Swiss firm ABB for EGP150mn.
Accordingly, the firm is in talks with a major Egyptian company manufacturing pharmaceutical to buy 8.700 sqm, which is the remaining share of the building.
In addition, the market share of the administrative building surpasses EGP350mn, which involves 7 upper floors and 2 underground floors.
The project”s building suits the standards of clean energy, in which major firms and global institutions are interested.
M
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